Global Plastic Pigments Market 2019-2023
About this market
The increase in demand for plastic pigments from the developing countries will trigger the market growth during the forecast period. Vendors in the market are increasingly planning to shift their manufacturing activities in developing economies including China, India, Taiwan, South Africa, and Brazil due to several favorable factors including inexpensive labor, low transportation costs, and less stringent regulations. Favorable initiatives such as Make in India are supporting in-house manufacturing, in turn, expected to drive the plastic pigments market growth during the forecast period. Technavio’s analysts have predicted that the plastic pigments market will register a CAGR of over 4% by 2023.
Growth in the packaging industry
One of the growth drivers of the global plastic pigments market is the growth in the packaging industry. The rising demand for plastic pigments from various packaging applications, including F&B, cosmetics, and consumer goods, will drive the growth of the market.
Volatility in raw material prices
One of the challenges in the growth of the global plastic pigments market is the volatility in raw material prices. Fluctuation in prices of metal compounds, including metal oxides, adversely affect the production cost of plastic pigments and negatively affect the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the plastic pigments market during 2019-2023, view our report.
The market appears to be fragmented with the presence of several market players. Censors in the market are focusing on the expansion of production capacities of plastic pigments. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Plastic Pigments Market 2019-2023
Technavio recognizes the following companies as the key players in the global plastic pigments market: BASF SE, Clariant, DIC CORPORATION, LANXESS, and Sudarshan Chemical Industries Limited.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the expansion of production capacities of plastic pigments.”
According to the report, one of the major drivers for this market is the inorganic pigments are easily available and exhibit better performance than organic pigments.
Further, the report states that one of the major factors hindering the growth of this market is the volatility in raw material prices.
Sudarshan Chemical Industries Limited
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